News: DuluxGroup H1 profit meets expectations

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DuluxGroup (ASX:DLX) has reported a net profit of $47.9 million for the six months to March this year slightly down from the same time last year.



Dulux’s chief says the results were in line with expectations given generally subdued market conditions and rising input costs.



The paint manufacturer’s strategy is focused on building its domestic markets as well and establish niche positions in emerging markets of Asia.



Dulux has acquired nearly 20 per cent of Alesco Corporation Limited (ASX:ALS) and launched a $188 million takeover bid last week, for all the shares that it does not already own.



Dulux has reported a fully franked interim dividend of 7.5 cents per share.